Housing price growth slows across Puget Sound, per Northwest MLS

John L. Scott Chairman and CEO J. Lennox Scott is quoted in Marc Stiles’ article about the latest Northwest MLS numbers. In August, the market has moved from a frenzied state to one of strong sales activity.

Marc Stiles | Puget Sound Business Journal

The year-over-year median sale price of a single-family home increased less than 3 percent to $669,000 in King County in August, according to a report from the Northwest Multiple Listing Service released Friday.

Housing prices actually declined in the King County markets of Enumclaw, Bridle Trails/Kirkland, Skyway and Vashon Island.

It’s a big change from January, when housing prices were up 19.7 percent year over year. Even so, experts do not anticipate a quick shift to a buyers’ market.